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Property profile & analytics
OFF-MARKET
Estimated value
$11,165,000
Medical Office Space
1551 Bishop St San Luis Obispo, CA 93401-4635
Individually Owned
Free & Clear
Property ID
US09-2431332
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1987
Construction
WOOD
Total area
34,777 SF
Lot
3.89 ac (169,448 SF)
Zoning code
O
APN
003-703-059
UPID
US09-2431332
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Gilman W Carr Inc Dental Office
-
Ackerman Laurence DDS Dental Office
-
Clark & Lapidus Dental Office
-
Giray Erol F MD Physician
-
john's home Noyes Rd. and Prinz Rd. Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$14.83M
Blend (final)
Blend
$11.17M
Owner & transaction history
LA PARRA VTR A CAL VTR
LA PARRA VTR A CAL VTR
Zoning & alternative use
O · San Luis Obispo, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$18.3M
+23.4%
Restaurant
$17.5M
+17.9%
Auto repair, garage
$15.9M
+7.1%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs San Luis Obispo submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs San Luis Obispo submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$14,835,000
Current use
COMMERCIAL (GENERAL)
$18,300,000
Change: +23% · Conversion: Easy
RESTAURANT
$17,485,000
Change: +18% · Conversion: Difficult
AUTO REPAIR, GARAGE
$15,895,000
Change: +7% · Conversion: Difficult
OFFICE BUILDING
$15,775,000
Change: +6% · Conversion: Easy
Blend value · Realmo final
$11.17M
Range $10.05M – $12.28M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$321 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Applied tax rate
3.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1987
Construction
WOOD
Heating
NONE
Buildings
5
Total area
34,777 SF
Lot
3.89 ac (169,448 SF)
Zoning code
O
APN
003-703-059
UPID
US09-2431332
Jurisdiction
SAN LUIS OBISPO
Zoning & alternative use
O · San Luis Obispo, CA
Zoning O · permitted uses
O · San Luis Obispo, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
San Luis Obispo. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$14.8M
COMMERCIAL (GENERAL)
Est. value
$18.3M
RESTAURANT
Est. value
$17.5M
AUTO REPAIR, GARAGE
Est. value
$15.9M
OFFICE BUILDING
Est. value
$15.8M
MEDICAL BUILDING Current
COMMERCIAL (GENERAL)
RESTAURANT
AUTO REPAIR, GARAGE
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1987
Construction
WOOD
Heating
NONE
Buildings
5
Lot
3.89 ac
Current owner
From public records · entity-resolved
LA PARRA VTR A CAL VTR
Individual
Free & Clear · 0 yrs held
Mailing address
1551 BISHOP ST STE #240, SAN LUIS OBISPO, CA 93401-4661
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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